Coonan to quit parliament on Monday for private sector

Former cabinet minister Helen Coonan is to quit parliament at the close of business on Monday and take up a position in the private sector within weeks, opening a vacancy in the Senate that is tipped to be filled by senior Liberal official Arthur Sinodinos.

Senator Coonan announced her intentions soon after 5pm on Thursday in a statement to the upper house that came after a day of speculation about the timing of her departure.

Resigning from the upper house need only be done by writing a letter to the president of the Senate and takes effect immediately.

Under parliamentary conventions, the Liberal Party would nominate a person from the same state, in this case NSW, to replace the person resigning.

Senator Coonan’s decision is to be discussed at a NSW Liberal Party meeting on Friday and is expected to trigger a preselection within weeks, with Mr Sinodinos the leading candidate.

Currently an executive at the National Australia Bank, Mr Sinodinos was the chief of staff to former Prime Minister John Howard for most of the tenure of the Howard government.

Senator Coonan told The Australian Financial Review she had spoken to Mr Sinodinos recently and would be honoured if he replaced her.

But she cautioned that Mr Sinodinos had not decided whether to seek the position.

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“I’d be honoured if he was the person who followed me in the Senate. I think he’s got a huge contribution to make. He’s a consummately skilled person and I’m sure he would have overwhelming party support if he were to make that commitment," Senator Coonan said.